Flooring Market

Global Industry Analysis (2017 – 2020), Growth Trends and Market Forecast (2021 – 2025)


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Ceramic Tiles, Vinyl, and Wooden Flooring to Remain Popular Floor Choices

Flooring amounts to 10% of the total project cost in building and construction activities, thus indicating a solid ground for the global market. An important part of any interior design across residential, commercial, and industrial, its usage is both functional and fashionable. Flooring is an important element that requires key attention as it sets the tone in a given space.

The global flooring market is estimated to be around US$13 billion sqm. Flooring is majorly categorized into carpets and rugs and resilient and non-resilient. Resilient floorings are manufactured from elastic materials. They are firm but have some give or bounce back to it. Resilient flooring is a middle ground between soft and hard floors. This type of flooring suits both residential and commercial spaces. Adhesives are used to ensure adherence of these flooring materials to the underlayment or subfloor. Vinyl flooring is one of the major categories of resilient floors. Its popularity has outgrown other flooring materials in the past few years owing to its excellent features such as durability, low maintenance, easy on the budget, and design freedom.

Non-resilient flooring on the other hand has no give or bounce back. It is made up of hard-surfaced, inflexible, and organic materials. Major non-resilient flooring materials include ceramic tile, engineered wood flooring, marble, terrazzo, and concrete. Ceramic tile is the most popular flooring material, which accounted for more than 60% of the total flooring market in 2018. Meanwhile, the carpets and rugs category has gained popularity in spaces wherein comfort, noise reduction, and warmth are priority.

Residential Spaces to Retain Dominance across Global Flooring Market

Residential buildings dominated the global flooring market and accounted for more than half of the market share in 2018. Rising disposable income and an increase in the number of single-family homes are likely to be key driving factors in emerging countries. Rapidly expanding construction projects, both residential and commercial along with urban development projects are expected to create a surge in demand for flooring. Furthermore, renovation, replacement, and refurbishment in residential spaces are projected to stoke the vinyl flooring, carpets and rugs, wood flooring, and ceramic tiles market in the forthcoming years.

Trends and tastes in floor coverings are changing at a rapid pace. Urbanization and the need for sustainable flooring materials have had a huge impact on the industry. Consumers are looking for products with low maintenance and flatter floors. Both commercial and industrial spaces have shown inclination towards greener technologies as energy conservation in buildings has acquired prime importance globally. Though flooring looks like a small factor in designing sustainable buildings, it plays a considerable role as it covers a large surface area. Thus, the right choice of flooring material is important to keep rooms heated in harsh winters and cool in scorching summers.

Asia Pacific to Lead, the Middle East and Africa to be Fastest-growing Markets

In 2018, Asia Pacific accounted for more than half of the total global flooring market. China and India are the dominant forces in the region. Rapid industrialization, urbanization, and the booming development of housing projects are the key influencing factors in the region. Increasing per capita income, leading to improved standard of living, in the countries such as India, Malaysia, Indonesia, Vietnam, and China has given the regional flooring market exponential business.

The level of investment in housing, whether its new construction or renovation, has increased leaps and bounds. Flooring demand has increased substantially in the Middle East & Africa. Urban development and construction projects are in upswing, boosting the demand for various flooring materials such as ceramic tiles, vinyl, and concrete floorings in the region.

Trends in North America are different as compared to other regions wherein, carpets and rugs is the major category. North America accounted for more than 45% of the total carpet production. However, due to the increase in competition from other flooring materials, the carpets and rugs category has observed sluggish growth in the past few years. The market for the high-end carpets and rugs segment remains upbeat, especially with wool and its blends as they are the best fibers in terms of performance and sustainability.

Flooring Competition Is Not A Race to the Bottom

The global flooring market is highly competitive. The market is dominated by global as well as regional players. Every region has its own floor cover preferences, thus making competition fiercer. Technological innovation is at center stage and has become key for sustainable business. Companies are developing a blend of flooring materials with technologically inspired unique designs and formats. Laminate floorings can now convincingly mimic everything, from stone to marble to wood. The technical advances have helped the manufacturers to create flooring with raised textures with intricate designs for higher aesthetic appeal.

In 2020, Welspun Flooring Limited, a flooring vertical of Welspun Group launched its US$ 145 million manufacturing facility in Telangana, India. The facility is equipped with a wide range of innovative flooring materials such as carpet tiles, broadloom carpets, and greens. It also includes a patented and technologically advanced product ‘Click N Lock® tiles’, manufactured from stone & polymer composites.

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